In terms of gross written premium, life was the second-largest segment, behind non-life, in the Austrian insurance industry in 2013. The segment accounted for industry shares of 45.0%, 42.4%, 40.0% and 39.0% in 2010, 2011, 2012 and 2013 respectively, and fell from being the leading segment in 2011 to the second-largest in 2012 and 2013. This was mainly due to the rapid decline of single-premium life products following an increase in the lock-in period from 10 to 15 years. The global financial crisis also had an adverse impact on the Austrian economy and the subsequent sovereign debt crisis in Europe compounded the situation, leading to a rise in unemployment and a reduction in wages for public sector workers. These factors discouraged Austrian consumers from purchasing insurance as other commodities took priority. However, the situation is improving and the country's economic indicators are positive. Consequently, the Austrian life segment is projected to register positive growth at a forecast-period (2013-2018) CAGR of 4.0% over forecast period.